Keros Raises $140 Million to Advance Treatments for Rare Blood Disorders

Rare Daily Staff

Keros Therapeutics expects to raise $140 million in an underwritten public offering of its common stock to advance a pipeline targeting patients with disorders that are linked to dysfunctional signaling of the transforming growth factor-beta (TGF-ß) family of proteins.

The company priced 3.5 million shares of common stock, at a public offering price of $40.00 per share. The gross proceeds to Keros from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $140.0 million. In addition, Keros has granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock at the public offering price, less the underwriting discounts and commissions.

The TGF-ß family of proteins are master regulators of the growth, repair, and maintenance of blood cells and a number of tissues, including bone, skeletal muscle, adipose and heart tissue. Keros leveraged its understanding of TGF-ß proteins to discover and develop large and small molecules that have the potential to provide meaningful and potentially disease-modifying benefit to patients.

The company’s lead protein therapeutic product candidate, KER-050 (elritercept), is being developed for the treatment of low blood cell counts, or cytopenias, including anemia and thrombocytopenia, in patients with myelodysplastic syndrome and in patients with myelofibrosis. Keros’ second product candidate, KER-012, is being developed for the treatment of pulmonary arterial hypertension and for the treatment of cardiovascular disorders. Keros’ third product candidate, KER-065, is being developed for the treatment of obesity and for the treatment of neuromuscular diseases.